A Spotter Loan can be a short term loan

At Spotter we specialise in short term loans with repayment periods between 3 months and 12 months. The loans we specialise in are loans up to $2000. These loans are also known as pay-day loans or small amount credit contracts (SACCs).

You can apply for the loan and it usually takes our team an hour to assess your application during normal business hours once we have all the necessary information. Our service offers:

  • Flexible repayment arrangements, you can choose 3 months, 6 months or 12 months (the most common is 6 months); and
  • A simple application process; and
  • Early repayment of loans without penalty; and
  • Loans are unsecured.

In the majority of cases you will not need to print and scan/fax us back any documents, everything can be done electronically online using your smart phone or computer.

Can I get a short-term loan without credit defaults?

Although we will look at your credit record in the majority of cases, a poor credit rating with outstanding defaults may not count against you. We understand that those seeking short term loans might be credit impaired and we will evaluate each case on its merits.

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Here’s what a loan might look like

Here’s what a small loan might look like…

You’re after a loan for $1,000 for medical or dental bills. Your are looking to repay the loan back after 6 months and are happy to make fortnightly payments.

Small Loan Example

$1,000
Loan Amount
13 X $110.77 = $1,440.00
RepaymentsPer FortnightTotal Payments
Loan length: 26 weeks

In the above example You’ll pay:

  • Loan Amount Financed: $1,000
  • Establishment Fee: $200 (set by NCCP at 20% of the loan amount)
  • Monthly Permitted Fee: $40 per month charged on the anniversary of the loan
  • Amount of Credit of the Loan: $1,240
  • Total Amount of Interest Payable: NIL
  • Direct Debit Fees: $25.74 ($0.99 per transaction)
  • Total amount of repayments: $1,440.00
  • Nominal Percentage Rate (Interest) per annum: 0% as defined by NCCP

Comparison Rate: 160.0571% as defined by NCCP

Here’s what a medium loan might look like…

You’re after a loan for car repairs for $2,500 and are looking to make payments back on a weekly basis over 2 years.

Medium Loan Example

$2,500
Loan Amount
104 X $43.19 = $4,490.88
RepaymentsPer WeekTotal Payments
Loan length: 104 weeks

In the above example You’ll pay:

  • Loan Amount Financed: $2,500
  • Establishment fee: $400 (Set by NCCP)
  • Amount of Credit of the Loan: $2,900
  • Total Amount of Interest Payable: $1,590.86
  • Repayments: 103 x $43.19 + $42.31 (a final payment)
  • Total amount of repayments: $4,490.88
  • Nominal Percentage Rate (Interest) per annum: 48% as defined by NCCP

Comparison Rate: 65.5138% as defined by NCCP

WARNING: This comparison rate is accurate and applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

See our full Fee Statement for fee details.

“These examples are provided for illustrative purposes only. They do not represent an offer from Rate Detective Pty Ltd. A Spotter Loan is subject to the completion of an application, which is subject to responsible lending checks that take your personal needs and financial circumstances into account.”

Warning about Borrowing!

For loans under $2000 the minimum repayment term 90 days, maximum repayment term 12 months.